Using Point of Sale Software to Increase Profits

by : Candy Ross

There are a many ways a good retail point of sale system can benefit retailers and generate profitability. These benefits emphasize the kind of impact a POS system can make for retailers at many levels.

Point of sale (POS) is just one component of a retail system. But it is the key element that captures important information relating to sales and customers.

These are the components of a retail system that are important:

Point of sale
Inventory control / merchandising
Customer relations management (CRM)
A financial system
Employee management
Vendor management

Although a retailer can get these components as "stand-alones" and write interfaces between each of those, having an integrated system with all of these components makes business operations run more efficiently.

One such system is Retail Pro, a fully-integrated retail system. This system has been the global leader in its field and remains the choice for thousands of specialty retailers.

For one thing, the customer experience plays a major role in building customer loyalty. The more you know about them, the better you can serve their needs. What do they like or don't like about your product line?

Retail Pro captures information and helps you identify what the customer is buying.

Another thing about the customer experience is how fast they are serviced. Customers don't enjoy waiting in long lines in the store. This is the "front lines" of retail business operations and where all the action is.

Therefore, when it comes to the checkout process, a good point of sale system like Retail Pro speeds up checkout and makes customer purchases more accurate.

Running reports gives retailers a major advantage, too. The information it provides will turn oversight into insight.

The reports in Retail Pro will tell a retailer what is selling the best and what is not. They can see what items are hot sellers and prompt you on what items to markdown. Replenishment reports like that can give retailers a competitive edge to stay ahead of the game.

And then you have to be able to handle communications with vendors swiftly so that the purchasing, receiving and returns of merchandise are managed easily.

Retail Pro allows a retailer to communicate directly with vendors using electronic data interchange, fax or email, and put certain items on automatic replenishment.

The benefits of an effective, fully integrated POS system like Retail Pro are vast, although the key factors that come into play with a system like this is that is allows a retailer to increase merchandise turnover, to measure productivity of individual sales, and provide insightful reports that help you make important decisions.

A good POS system will have significant impact on sales and profitability. Retailers who make the most effective use of their retail POS system become much more efficient in their inventory management, and this in turn allows them to handle merchandise better and measure productivity of sales.